June 4, 2021
The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM Best. Increases in incurred losses, loss adjustment expenses and …
May 25, 2021
Insurance agencies reported a couple of highs and a low in first quarter profitability results, according to the latest Reagan Consulting Growth & Profitability Survey of the agency consulting firm’s agents and broker clients. Three industry measures were the best …
May 12, 2021
Zurich Insurance does not expect to have a major exposure to the failure of supply chain financing firm Greensill Capital, the insurer’s chief financial officer said on Wednesday after it reported solid first-quarter earnings. Greensill Capital lent money to firms …
May 7, 2021
American International Group (AIG) reported strong underwriting and investment results in in its General Insurance and its Life and Retirement divisions, despite catastrophe losses from winter storms and Covid-19 mortality claims. For the first quarter, net income was $3.9 billion …
May 5, 2021
Hiscox Ltd reported gross written premiums up 6.3% to $1,256.6 million, with growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offsetting planned reductions in the U.S. broker channel. In Hiscox Retail, gross premiums up …
May 3, 2021
Swiss Re reported consolidated net income of USD 333 million in the first quarter of 2021, despite heightened losses in its life and health reinsurance business related to COVID and property and casualty reinsurance losses from U.S. catastrophes. The company …
April 29, 2021
Chubb reported sizable net income of $2.30 billion in the first quarter of 2021 versus $252 million for the prior year’s first quarter as the global insurer’s commercial property/casualty businesses continued to capitalize on favorable underwriting conditions with double-digit premium …
April 23, 2021
W.R. Berkley Corp. reported record quarterly underwriting income, double-digit premium growth and healthy rate increases in the first quarter. The commercial lines insurer and reinsurer also saw its net income soar to $229.5 million, or $1.23 per diluted share, compared …
April 23, 2021
The Hartford CEO Christopher Swift expressed confidence that the property/casualty insurer has weathered the worst of the COVID-19 pandemic and that related concerns about business interruption claims have become minimal. “I have never been more excited about The Hartford’s future,” …
April 22, 2021
Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately $43 million, primarily related to Winter Storm Uri. Approximately half …